| Â | | | | the Atlantic city have been shut down. The |
| | | | Trump Marina Hotel Casino had the biggest |
| Macau's economy is based on tourism and | | | | decline $11.8 million and recently Trump |
| gambling, much like its counterparts in the | | | | decided to sell this away as well. New |
| US - Las Vegas and Atlantic City. These | | | | casinos have started coming up though and it |
| three places, combined generate more revenue | | | | is unclear at this time what the future of |
| just from gambling than the total market cap | | | | Atlantic City would be. |
| of Bank of America and US Bank combined, in | | | | |
| fact they don't even come close. | | | | Overall revenue casinos dropped 2.9% compared |
| | | | with 2006, but the decline in slots revenue |
| Here, we look at the key statistics at the | | | | was even sharper at 7.2%. The smoking ban, |
| "terrific three" gambling hubs | | | | State imposed additional taxes, competition |
| | | | from casinos in neighboring states and the |
| Â | | | | overall economic slowdown contributed to the |
| | | | slowdown. Despite these losses, Atlantic |
| Las Vegas | | | | City generated $4.94 billion in gambling |
| | | | revenues in 2007, still a very strong number |
| In Las Vegas has long been the world's | | | | in the US. With new casinos coming up and the |
| gambling hub. High end casinos, unparalleled | | | | closure of the old loss-generating ones, |
| service and a large variety of entertainment | | | | Atlantic City seems to be poised for a |
| options have kept tourists coming back to | | | | comeback. Only time will tell. |
| Vegas year after year. Leading properties | | | | |
| include casinos run by MGM Mirage Inc., | | | | Macau |
| Harrah's Entertainment Inc., Las Vegas Sands | | | | |
| Corp and the Wynn Resorts Ltd. | | | | Gambling revenue in the enclave totaled 55.9 |
| | | | billion patacas in 2006, which includes |
| At close to $6.5 Billion in gambling revenues | | | | lottery and racing revenues although the |
| in Las Vegas alone and $12 billion total in | | | | booming bulk came from casino floor. |
| the state of Nevada which includes the city | | | | |
| of Reno, a smaller gambling hub, it is still | | | | This may exceed the 6.2$billion generated by |
| arguably the world's largets gambling | | | | Las Vegas strip. Gambling revenue in the |
| location, even though Macao has exceeded Las | | | | enclave totaled 55.9 billion patacas ($6.95 |
| Vegas in the last year or so as the world's | | | | billion) in 2006. VIPs related revenue was |
| largest gambling hub. | | | | higher but the mass market was slightly |
| | | | lower. |
| Las Vegas overall economy, which includes | | | | |
| revenue from tourism, gambling, entertainment | | | | At the end of 2006, Macau had 24 casinos |
| and a host of other smaller businesses | | | | operating 2,762 gaming tables and 6,546 slot |
| including conventions, revenue has been | | | | machines. In the beginning of the year 2007, |
| increasing 6.5% year after year and is about | | | | with the increase in the gambling revenue by |
| $110 billion now and is expected to reach | | | | 22% reaching US$ 6.95 billion, Macau would |
| $155 billion in 2012. No other location comes | | | | have dethroned Las Vegas to emerge as the |
| even close to that number. | | | | world's #1 gambling destination. |
| | | | |
| 2008, however, has been slower than usual, | | | | The success story of Macau may be due to the |
| primarily due to the overall economic | | | | fact that the visitors from the nearby areas |
| slowdown in the US due to the subprime | | | | in mainland China show more interest towards |
| mortgage crisis. | | | | gambling compared to the Americans in Las |
| | | | Vegas, whose people aren't that interested in |
| Atlantic City | | | | gambling in general. |
| | | | |
| Atlantic City's has11 casinos and has been | | | | Macau, the only place in China where the |
| the second biggest gambling hub in the US for | | | | gambling is being made legal is within the |
| several decades. Research studies however | | | | reach of three billion people which positions |
| show that 2007 will be the first year for the | | | | it well for further growth, much better than |
| drop in revenue, because of the tough | | | | Las Vegas and Atlantic City. It is already |
| competition in the gambling industry. | | | | the world's largest gambling center by volume |
| | | | and may soon become the largest by revenues |
| Many of the old casinos that were there in | | | | as well. |